Global Biometrics Market in Hospitality Sector 2016-2020

Technavios market research analyst predicts the global biometrics market in the hospitality sector to grow at a CAGR of around 27% during the forecast period. With the increase in cases of time theft, data theft, and other criminal activities in the hospitality sector, the demand for security technologies including a highly reliable and accessible personal authentication and identification systems has increased. Biometrics has emerged as a suitable security and monitoring solution to meet this need as it is based on the behavioral and physiological characteristics of an individual, which is difficult to replicate. Biometrics in the hospitality sector is seen as the most accurate and reliable system because it eliminates manual inputs, identity card exchange, and time theft.
Biometrics in hospitality sector gives real-time information about workforce and visitors by providing complete and accurate visibility to their reporting and leaving time. It enables the hospitality sector to gain better insight into the employees work and time spent on work. Biometrics is being used in the hospitality sector for monitoring, identification, and access control. The adoption of biometrics in the hospitality sector is expected to increase during the forecast period due to the increased instances of security breaches such as terrorist attacks and bombings in the past two to three years in the hospitality sector.

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Technology segmentation and analysis of the biometrics market in hospitality sector

• Fingerprint identification 

• Facial recognition 

• Vein recognition 

The fingerprint identification accounted for the largest market share in the biometrics market in hospitality sector during 2015. However, this segment is anticipated to witness a decline in its shares by the end of 2020 as fingerprints can be recreated easily. For instance, The Chaos Computer Club, Europes largest association of hackers, was able to reconstruct an accurate thumb impression of an individual by using VeriFinger.

Geographical segmentation and analysis of the biometrics market in hospitality sector

• APAC 

• Europe 

• Latin America 

• MEA 

• North America 

North America dominated the market during 2015, accounting for a market share of around 40%. The increased acceptance of biometrics in the hospitality sector for time and attendance monitoring, access to PCs, networks, and servers, control access to restricted areas, and limit access to critical data has been driving the market growth in this region. . This region is expected to retain its market leadership until the end of the forecast period due to an increase in instances of security breaches in the hospitality sector such as terrorist attacks and bombings.

Competitive landscape and key vendors

The global biometrics market in the hospitality sector is fragmented due to the presence of numerous small regional vendors and large multinational vendors. International players are investing in upgrading existing technologies. The key players are expected to diversify their geographical presence with a focus on APAC during the forecast period.

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The leading vendors in the market are -

·         3M Cogent 

·         Crossmatch 

·         FUJITSU 

·         M2SYS 

·         NEC 

The other prominent vendors of the market include ACTAtek, Allegion, ePortID, Herta Security, Iris ID, IriTech, SecurAX Tech, SekureID, TENBIO, Trac-Tech, Tyco, and WatchGuard.

Key questions answered in the report

·         What will the market size and the growth rate be in 2020 

·         What are the key factors driving the global biometrics market in the hospitality sector 

·         What are the key market trends impacting the growth of the biometrics market in the hospitality sector 

·         What are the challenges to market growth 

·         Who are the key vendors in this market space 

·         What are the market opportunities and threats faced by the vendors in the global biometrics market in the hospitality sector 

·         Trending factors influencing the market shares of the North America, Europe, APAC, MEA, and Latin America 

·         What are the key outcomes of the five forces analysis of the global biometrics market in the hospitality sector 

Related reports:

Biometrics Market in BRIC Countries 2015-2019

Global Biometric in Workforce Management 2015-2019

Global Biometrics Market in BFSI Sector 2015-2019

Biometrics Market in the Middle East 2015-2019 

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Global Biometric in Workforce Management 2015-2019

Technavios market research analysts predict the global biometric workforce management to record a CAGR of more than 17% from 2015 to 2019. The report considers revenues generated from the sales of biometric solutions, including hardware, software, integrated solutions, and services used by enterprises and government organizations to authenticate and monitor employees. Authentication implies identification and access control for premises and system networks while monitoring includes surveillance, time, and attendance.
The market is mainly driven by the need for organizations to adopt biometric workforce management to replace traditional security systems. These include PINs, ID cards, passwords, and keys that are traditionally used to record clock in and clock out.

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Market segmentation of biometrics in workforce management by application

• Identification 

• Access control 

• Monitoring 

Biometric access control systems restricts unauthorized access, thus ensuring safety of employees and mitigating the risk of tampering important data. People are granted access only when their identity is confirmed by the information stored in the database of the enterprise. Access control is the fastest growing segment, predicted to reach a market size of more than USD 5.5 billion during the forecast period.

Global biometric market in workforce management by technology

• Fingerprint identification 

• Facial recognition 

• Iris recognition 

• Others 

Fingerprint identification accounts for the largest share of this market. Fingerprint technology is the oldest biometric technique, mostly used by organizations worldwide for time and attendance monitoring, and access control. As its accuracy rate is relatively higher, this segment will continue to sustain growth during the forecast period.

Geographical segmentation of the biometric market in workforce management

• MEA 

• Latin America 

• APAC 

• Europe 

• North America 

The market share of the North America region is expected to decline by the end of 2019. During the same period, the market share of APAC is estimated to increase on account of high adoption in countries such as China and India. The Europe market will witness higher adoption from Nordic countries such as Denmark and Norway as compared to the UK during the forecast period.

Competitive analysis of the biometric market in workforce management

Vendors in this market are expected to launch multimodal biometrics for time and attendance with combinations such as inbuilt fingerprint as well as finger vein recognition systems within a single device. As multi-modal biometric system saves cost, its demand among end-user industries such as construction will pose an attractive opportunity for the market vendors over the next four years.

• Bio Enable 

• 3M 

• M2SYS Technology 

• Safran 

• Suprema 

Other prominent vendors in this market include ATS, BioLink Solutions, Biometric Time Clock Systems, Biomatiques Identification Solution, BioSITE Systems, Delaney Secure, Easy Clocking, ePortID, FingerCheck, Fujitsu, HID Global, Iris ID, IriTech, SecurAX, SekureID, Tensor, TimeLabs, and Trac-Tech.

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Key questions answered in the report

• What are the key factors driving the biometric market in workforce management 

• What are the key market trends impacting the growth of the biometric market in workforce management 

• What are the various opportunities and threats faced by the vendors in the biometric market in workforce management 

• Trending factors influencing the market shares for MEA, Latin America, APAC, Europe, and North America 

• Key outcome of the five forces analysis on the biometric market in workforce management 

• Growth forecast of the biometric market in workforce management until 2019 

Related reports

Global Fingerprint Mobile Biometrics Market- Research Report 2015-2019

Biometrics Market in MENA: Research Report, Trends, and Forecast 2015-2019

Global Fingerprint Biometrics Market 2015-2019

Emerging Biometrics Technologies: Global Industry Analysis 2015-2019 

Check Discount on this report @ https://www.wiseguyreports.com/check_discount/global-biometric-in-workforce-management-2015-2019 .

Contact US:       

NORAH TRENT

Partner Relations & Marketing Manager                                                         

sales@wiseguyreports.com
Ph: +1-646-845-9349 (US)

Ph: +44 208 133 9349 (UK)